{"id":451039,"date":"2021-03-04T11:38:06","date_gmt":"2021-03-04T16:38:06","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=451039"},"modified":"2021-03-04T11:38:06","modified_gmt":"2021-03-04T16:38:06","slug":"arcelormittal-announces-closing-of-its-first-share-buyback-program-and-commencement-of-a-second-program","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/arcelormittal-announces-closing-of-its-first-share-buyback-program-and-commencement-of-a-second-program\/","title":{"rendered":"ArcelorMittal announces closing of its first share buyback program and commencement of a second program"},"content":{"rendered":"
\n

\n 04 March 2021 17:35 CET<\/strong>\n <\/p>\n

ArcelorMittal today announces that it has completed the share buyback program announced on 15 February 2021 under the authorization given by the annual general meeting of shareholders of 13 June 2020 (the \u2018AGM Authorization\u2019). By market close on 3 March 2021, ArcelorMittal had repurchased 27,113,321 million shares for a total value of approximately \u20ac536,570,952.53 (equivalent to US$649,999,934.95) at an approximate average price per share of \u20ac19.79. All details are available on the Company\u2019s website at: https:\/\/corporate.arcelormittal.com\/investors\/equity-investors\/share-buyback-program<\/u><\/a>.<\/p>\n

As also announced on 15 February 2021, ArcelorMittal will today commence a second share buyback program (the \u2018Program\u2019) for an aggregate amount of US$570 million, in-line with the Company\u2019s new capital returns policy published on 11 February 2021 in the Company\u2019s fourth quarter and full year 2020 financial results. This share buyback program will be completed by 31 December 2021.<\/p>\n

The shares acquired under the Program are intended:<\/p>\n

    \n
  1. to meet ArcelorMittal\u2019s obligations under debt obligations exchangeable into equity securities, and\/or;<\/li>\n
  2. to reduce its share capital.<\/li>\n<\/ol>\n

    ArcelorMittal intends to repurchase\u00a0shares for an aggregate maximum amount of US$570 million in accordance with the AGM Authorization and applicable market abuse regulations. The Program will commence today [1]<\/u><\/a>.<\/p>\n

    \n
    \n
    \n [1]<\/u>
    \n <\/em>
    \n <\/a>
    \n \u00a0The Significant Shareholder has declared its intention to enter into a share repurchase agreement with ArcelorMittal, to sell each trading day on which ArcelorMittal has purchased shares under the Program, an equivalent number of shares, at the proportion of the Significant Shareholder\u2019s stake in the Company of 36.34% of issued and outstanding shares of ArcelorMittal, at the same price as the shares repurchased on the market. The effect of the share repurchase agreement is to maintain the Significant Shareholder\u2019s voting rights in ArcelorMittal\u2019s issued share capital (net of treasury shares) at the current level, pursuant to the Program.<\/em>\n <\/p>\n


    \n
    \n \n <\/div>\n

    <\/div>\n","protected":false},"excerpt":{"rendered":"

    04 March 2021 17:35 CET ArcelorMittal today announces that it has completed the share buyback program announced on 15 February 2021 under the authorization given by the annual general meeting of shareholders of 13 June 2020 (the \u2018AGM Authorization\u2019). By market close on 3 March 2021, ArcelorMittal had repurchased 27,113,321 million shares for a total value of approximately \u20ac536,570,952.53 (equivalent to US$649,999,934.95) at an approximate average price per share of \u20ac19.79. All details are available on the Company\u2019s website at: https:\/\/corporate.arcelormittal.com\/investors\/equity-investors\/share-buyback-program. As also announced on 15 February 2021, ArcelorMittal will today commence a second share buyback program (the \u2018Program\u2019) for an aggregate amount of US$570 million, in-line with the Company\u2019s new capital returns policy published on 11 February 2021 in … <\/p>\n

    Continue reading “ArcelorMittal announces closing of its first share buyback program and commencement of a second program”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-451039","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nArcelorMittal announces closing of its first share buyback program and commencement of a second program - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/arcelormittal-announces-closing-of-its-first-share-buyback-program-and-commencement-of-a-second-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ArcelorMittal announces closing of its first share buyback program and commencement of a second program - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"04 March 2021 17:35 CET ArcelorMittal today announces that it has completed the share buyback program announced on 15 February 2021 under the authorization given by the annual general meeting of shareholders of 13 June 2020 (the \u2018AGM Authorization\u2019). By market close on 3 March 2021, ArcelorMittal had repurchased 27,113,321 million shares for a total value of approximately \u20ac536,570,952.53 (equivalent to US$649,999,934.95) at an approximate average price per share of \u20ac19.79. All details are available on the Company\u2019s website at: https:\/\/corporate.arcelormittal.com\/investors\/equity-investors\/share-buyback-program. As also announced on 15 February 2021, ArcelorMittal will today commence a second share buyback program (the \u2018Program\u2019) for an aggregate amount of US$570 million, in-line with the Company\u2019s new capital returns policy published on 11 February 2021 in … Continue reading "ArcelorMittal announces closing of its first share buyback program and commencement of a second program"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/arcelormittal-announces-closing-of-its-first-share-buyback-program-and-commencement-of-a-second-program\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-04T16:38:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDQ2MDM3OCM0MDA4NzkxMTcjMjAwMjE0Mg==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/arcelormittal-announces-closing-of-its-first-share-buyback-program-and-commencement-of-a-second-program\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/arcelormittal-announces-closing-of-its-first-share-buyback-program-and-commencement-of-a-second-program\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"ArcelorMittal announces closing of its first share buyback program and commencement of a second program\",\"datePublished\":\"2021-03-04T16:38:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/arcelormittal-announces-closing-of-its-first-share-buyback-program-and-commencement-of-a-second-program\\\/\"},\"wordCount\":302,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/arcelormittal-announces-closing-of-its-first-share-buyback-program-and-commencement-of-a-second-program\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=MTAwMDQ2MDM3OCM0MDA4NzkxMTcjMjAwMjE0Mg==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/arcelormittal-announces-closing-of-its-first-share-buyback-program-and-commencement-of-a-second-program\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/arcelormittal-announces-closing-of-its-first-share-buyback-program-and-commencement-of-a-second-program\\\/\",\"name\":\"ArcelorMittal announces closing of its first share buyback program and commencement of a second program - 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